Telecommunications vs. SFAS 101
Article Abstract:
The use of Statement of Financial Accounting Standard (SFAS) 71 by regulated industries such a telecommunications has recently been discontinued and replaced by SFAS 101. SFAS 71 established the idea that regulators' actions could create assets whose capitalized costs could be recovered in the future. In the climate of deregulation, companies no longer meeting the criteria of SFAS 71 will apply SFAS 101, which requires the elimination of regulator-created assets. Regulator-created assets and liabilities will be written off and charged to the income of the period commencing at the termination of the application of SFAS 71. SFAS 101 is supposed to help regulated industries to account for the effects of deregulation, but it has practical problems that will lead to arbitrary allocations and apportionments.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1990
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Ethics and Management Accountants
Article Abstract:
The National Association of Accountants (NAA) has published its first code of ethics: Standards of Ethical Conduct for Management Accountants. Four general categories, which could apply to any professional group, constitute the construction of the code: competence, confidentiality, integrity, and objectivity. The NAA code is compared with the code of ethics of the American Bar Association. The NAA code fails to provide accountants with any specific course to follow when confronted with varying situations. The operational framework provided is too sparse. Adherence to the code is voluntary. There may be additions in the area of enforcement.
Publication Name: Corporate Director
Subject: Business, general
ISSN: 0196-2116
Year: 1983
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Income Recognition on Long-Term Investments: The Controllability Criterion
Article Abstract:
An analysis of income recognition issues is made. A theoretical foundation for income measurement applicable to all long-term investments is developed here. Conflicts with the controllability criterion of income recognition exist in the accepted approach. The major departure from the accepted view relates to foreign exchange gains and losses. This is still a subject of great debate.
Publication Name: Managerial Planning
Subject: Business, general
ISSN: 0025-1941
Year: 1984
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